Immediate Trading Opportunities Await

FX:CADJPY   Canadian Dollar / Japanese Yen
Don't let Monday's reputation of slower market movement deceive you! This week, four immediate trading ideas present themselves right at the market's open. Many traders might overlook these due to the common notion that Monday trading is sluggish. Avoid this pitfall by conducting your analysis over the weekend. Stay ahead of the game and seize these trading prospects.

Canadian Dollar vs. Japanese Yen
Turning to the Canada Yen pair, the weekly chart shows a retest of the previous high, indicating a predominantly bullish movement. The daily chart solidifies this bullish trend. Counter-trend traders can explore pullback opportunities to secure good earnings. The four-hour and one-hour charts mirror this setup, offering counter-trend traders a chance to benefit.

πŸ” Weekly Chart Insights πŸ”
For the Canada Yen pair, a bearish Shark pattern retest presents an opportunity. Counter-trend traders can consider shorting at 108.75, potentially accompanied by RSI divergence. On the daily chart, a shorting opportunity is plausible with a retest at 109.12.

πŸ“Š Immediate Focus: Four-Hour Chart πŸ“Š
A bearish Bat pattern, already completed, captures my attention on the four-hour chart. This can potentially be shorted right at the market's open, or a bit of patience can be exercised to await an ideal confirmation. An entry point of 107.87 seems fitting if the trade conditions align. Conversely, a buying opportunity might arise with a bullish Bat pattern at 104.67.

πŸ•’ Action-Oriented Monday πŸ•’
On Monday, my attention will primarily be on the four-hour chart for this trade setup.

We believe that we should not slog our life away. Keep working to the minimum. How about 15mins a day?

Get into our 15mins workday community

Live session & Trading Tips on the GO

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.